Swing Loan definition

Swing Loan has the meaning specified therefor in Section 2.3(b) of the Agreement.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Swing Loan means any loan made by the Swing Line Lender under the Swing Line Facility pursuant to Section 2.04.

Swing Loan has the meaning specified in Section 2.3 (Swing Loans).

Examples of Swing Loan in a sentence

Each Swing Loan shall bear interest until maturity (whether by acceleration or otherwise) at a rate per annum equal to the sum of the Applicable Margin plus the Base Rate from time to time in effect (computed on the basis of a year of 360 days for the actual number of days elapsed).
Interest on each Swing Loan shall be due and payable by the Borrower on each Interest Payment Date and at maturity (whether by acceleration or otherwise).
Subject to the terms and conditions hereof, the proceeds of each Swing Loan extended to the Borrower shall be deposited or otherwise wire transferred to the Borrower’s Designated Disbursement Account or as the Borrower, the Administrative Agent, and the Swing Line Lender may otherwise agree.
Each Lender that so purchases a participation in a Swing Loan shall thereafter be entitled to receive its Percentage of each payment of principal received on the Swing Loan and of interest received thereon accruing from the date such Lender funded to the Swing Line Lender its participation in such Loan.
Each Revolving Loan and Swing Loan, both for principal and interest not sooner paid, shall mature and be due and payable by the Borrower on the Termination Date.

More Definitions of Swing Loan

Swing Loan and “Swing Loans” each is defined in Section 1.7 hereof.

Swing Loan has the meaning set forth in Section 2.3(d)(i).

Swing Loan means a loan that shall be denominated in Dollars made to US Borrower by the Swing Line Lender under the Swing Line Commitment, in accordance with Section 2.2(c) hereof.

Swing Loan is defined in Section 2.16.

Swing Loan means a Loan made by Wachovia pursuant to Section 2.01(b), which must be a Base Rate Loan or a Transaction Rate Loan.

Swing Loan has the meaning set forth in SECTION 2.3(d)(i).

Swing Loan has the meaning specified in clause (i) of subsection 1.1(d).